Argentina’s catastrophic drought clips recovery in S. American corn, soy output

After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.

• May 6, 2021USDA forecasts drop in Argentine soyabean output and exports+5.0%
• Feb 1, 2023Drought in Argentina creates tighter stocks in soybean and corn market: WASDE - RealAgriculture-1.5%
• Jul 10, 2026FAS sees slight dip in Argentine soy output | World Grain+1.3%
• Dec 28, 2023Latin American soy crush to rise in 2024 on crop recovery, higher biodiesel mandate-4.2%
• Aug 2, 2023Argentine soyabean outlook driven down due to drought-1.2%

After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.

• Feb 1, 2023Drought in Argentina creates tighter stocks in soybean and corn market: WASDE - RealAgriculture+1.2%
• Mar 1, 2023Corn, soybean usage cuts overshadow smaller Argentine crops+2.0%
• Jan 13, 2023USDA's WASDE trims South American corn crops - Grain Central+0.4%
• Jan 18, 2021China’s pork output recovers in 2020, beating expectations | The Pig Site-2.6%
• Sep 28, 2022Argentina soy harvest set to climb next season; wheat, corn to retreat | Financial Post+1.9%

After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.

• May 6, 2021USDA forecasts drop in Argentine soyabean output and exports+5.8%
• Aug 2, 2023Argentine soyabean outlook driven down due to drought-4.0%
• Sep 25, 2025Soybean Crushing Recovers Driven by Increased Competitiveness of Argentina’s Oilseed Industry – Christophersen S.A.-2.4%
• Mar 1, 2023Corn, soybean usage cuts overshadow smaller Argentine crops+2.6%
• Oct 21, 2021Argentina’s oilseed crushing rate forecast to drop+0.4%